KEY POINTS:
Freightways is paying A$3.5 million ($4 million) for a document and data storage business in Perth.
The company said today that the purchase of Access Information Management gave it a national data storage presence across Australia.
Freightways operates in the express package, business mail and information management markets.
In July 2006 Freightways entered the Australian market with the acquisition of data storage business DataBank.
Access would be managed by the DataBank team, with the acquisition resulting in DataBank establishing its own direct presence in the Western Australia market, as well as being Freightways first business in the region, Freightways said.
Access was expected to generate earnings before interest, tax, depreciation and amortisation of about $600,000 in the 12 months following its acquisition.
Freightways shares were up 1c in early trading to $3.05, having ranged between $3.90 and $2.80 in the past year.
- NZPA
